Notice 2007-28

[Penman2006]

Treasury had said they would not enforce Q&A9 of Notice 2007-28 and that they would follow proposed technical corrections. Has that technical correction been put into law yet?

[SoCalActuary]

Not yet. Technical corrections is passed by each house of Congress, but they have not completed the conference bill.

For your info, the IRS changed their position primarily because the Congress members wrote to explain that the IRS position was not their intent. So, we are seeing an unusual event: the IRS listened to the drafters of the legislation as a result of public indignation over the IRS interpretation.

[Penman2006]

Thanks.